Driving Decisions with Data: Delight or Disaster?
Albert Einstein's famous words, "Not everything that counts can be counted, and not everything that can be counted counts," offer a profound insight into the value of data. While the origin of this quote may be debatable, its message resonates with the challenges of the modern era. According to recent studies, the amount of data created in a single minute in 2021 far surpassed the amount of data created during Einstein's entire life. The question then arises: how can we harness all this data to make better decisions? To that point, in a 2018 Forrester survey of more than a thousand US companies, 91% of them said that data-driven decision-making was important to their business, while only 57% said they actually used data to make decisions in their business. In a world where data is abundant, should we not be using it to its full potential? This disparity calls for a critical evaluation of how we approach decision-making and challenges us to consider the implications of not leveraging data to its fullest extent.
How do we bridge this gap? What do KPIs have to do with ROI? How can we move from being in “data denial” to being data driven? Why should we care about leveraging data to its fullest potential? These are the pressing questions that need answers in today's world, and this session is ready to deliver. The four V's of Big Data offer a relevant framework for understanding the magnitude of the data we are dealing with, but what about the cognitive biases that often stand in our way? We'll explore three types of biases and how they can impede progress and innovation. Are qualitative and quantitative data really opposing forces, or can they work together for greater insight? Let’s capitalize on five best practices for driving business decisions with data, including how to LOOK, LINK, LISTEN, LEVERAGE, and LEARN. Discover how these practices can be a delight instead of a disaster, and ultimately, transform the way you think about data-driven decision-making.
𝙇𝙚𝙖𝙧𝙣𝙞𝙣𝙜 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙫𝙚𝙨: The participant/attendee will...
• Recognize how to leverage both qualitative data and quantitative data in driving business decision-making
• Identify the three types of cognitive biases in big data and how they’re the enemy of opportunity
• Define the five best practices for driving business decisions with data along with the key words for each one (look, link, listen, leverage, and learn)
• Data Decisions
• Cognitive Biases
• KPIs & ROI
• Qualitative Insights
• Data Best Practices
Professionals and decision-makers across various industries who are interested in harnessing the full potential of data-driven decision-making. This session targets individuals responsible for strategic decision-making, data analysts, data scientists, business intelligence specialists, and executives seeking to improve their organization's use of data. Attendees should be interested in understanding the challenges and opportunities of data-driven decision-making, exploring the relevance of Key Performance Indicators (KPIs) and Return on Investment (ROI) in data-driven strategies, and learning how to overcome cognitive biases that hinder effective data utilization. Moreover, individuals interested in aligning qualitative and quantitative data for deeper insights and implementing best practices such as LOOK (data observation), LINK (data integration), LISTEN (data feedback), LEVERAGE (data application), and LEARN (data-driven improvement) to drive successful business decisions with data will find value in this session.
𝙇𝙞𝙣𝙠𝙨 𝙩𝙤 𝙎𝙖𝙢𝙥𝙡𝙚 𝙑𝙞𝙙𝙚𝙤𝙨:
𝙎𝙥𝙚𝙖𝙠𝙚𝙧 𝘿𝙚𝙢𝙤 𝙍𝙚𝙚𝙡:
Dr. Joe Perez
Award-winning International Keynote Speaker / Senior Systems Analyst / Thought Leader of the Year / Fractional CTO / LinkedIn Top Voice / Best-Selling Author (Bringing Data to Life and Life to Data!)
Raleigh, North Carolina, United StatesView Speaker Profile